Everything You Should Know About Property And Debt Division During Fast Divorce GA

By James Sanders


Agreed divorce is currently a top option for most couples. Compared to its combative counterpart, it is both cheap and quick. Even so, the usual topics must be discussed and agreed upon before your marriage can finally get legally dissolved. One of the most challenging topics that has to be settled is property and debt division. When seeking to file for fast divorce GA has a decent number of top rated lawyers who could lend a hand.

The importance of working with a lawyer should not be underestimated. The professional will help you and your partner to navigate complex topics and come up with sober and fair decisions. It pays to understand that for fast divorce to work, both partners should be ready to make compromises where need be.

Getting some facts straight will make it easier for you to know what to expect of the process. To begin with, you may want to know that there are two types of property in a divorce. The first is community assets and the second is non-community assets. Community property refers to all assets that were attained using money generated during the time of your marriage. Community assets are usually divided during a divorce.

On the other hand, there are non-community assets. This typically refers to property that is solely under the name of one spouse. It could be that your partner received a personal injury settlement or he or she received an inheritance. Any property that falls under non-community assets is normally not considered during the proceedings. It remains in the name of the designated individual.

Fights over home ownership are not new. Even so, you may want to understand that the spouse who is required to have custody of the children most of the time always gets the house. If your union did not bear any children, then the topic has to be negotiated upon. In case it is challenging to make a decision, then you can always opt to have the house sold for you to divide the proceeds.

Settling matters of credit and debt can be challenging. Well, you may want to know that debt that is under your name is your sole responsibility. However, debt under joint accounts should be split equally between you and your partner. In case you used an account under your name to possess jointly owned assets, then the matter can be reviewed and the debt will be shared.

If you consigned against credit on behalf of your spouse, then legally, you would be required to settle any balances that your partner fails to pay. The involved lender is allowed by law to pursue you in case your spouse does not honor the repayment agreement. It therefore is crucial to have this kind of an issue settled out before you part ways.

It remains crucial for you to understand the basics of asset and property division before you start filing for divorce. You also need to find reliable legal assistance if you want to dodge making some grave mistakes. Bear in mind that even a minor blunder could turn your life into a living hell after you are legally divorced.




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